Medtronic R&D decreased by 4.2% to $722.00M in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 7.0%, from $675.00M to $722.00M. Over 4 years (FY 2021 to FY 2025), R&D shows relatively stable performance with a 2.3% CAGR.
Analysis
StatementIncome Statement
SectionOperating Expenses
CategoryGrowth
SignalContext dependent
VolatilityModerate
First reportedQ1 2014
Last reportedQ3 2026Feb 24, 2026
How to read this metric
Higher spending signals a commitment to innovation and future product launches, whereas significant cuts may indicate a shift toward short-term profitability.
Detailed definition
Research and development expenses represent the costs incurred to discover new products, improve existing technologies,...
Peer comparison
Highly comparable across pharmaceutical and medical device peers, where R&D intensity is a key metric for long-term valuation.
Metric ID:
research_and_developmentHistorical Data
20 periods
| Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $632.00M | $750.00M | $676.00M | $668.00M | $652.00M | $692.00M | $676.00M | $688.00M | $641.00M | $668.00M | $698.00M | $695.00M | $675.00M | $676.00M | $697.00M | $675.00M | $684.00M | $726.00M | $754.00M | $722.00M |
| QoQ Change | — | +18.7% | -9.9% | -1.2% | -2.4% | +6.1% | -2.3% | +1.8% | -6.8% | +4.2% | +4.5% | -0.4% | -2.9% | +0.1% | +3.1% | -3.2% | +1.3% | +6.1% | +3.9% | -4.2% |
| YoY Change | — | — | — | — | +3.2% | -7.7% | +0.0% | +3.0% | -1.7% | -3.5% | +3.3% | +1.0% | +5.3% | +1.2% | -0.1% | -2.9% | +1.3% | +7.4% | +8.2% | +7.0% |
Range$632.00M – $754.00M
CAGR+2.8%
Avg YoY Growth+1.6%
Median YoY Growth+1.3%
R&D at Other Companies
Frequently Asked Questions
- What is Medtronic's r&d?
- Medtronic (MDT) reported r&d of $722.00M in Q4 2025.
- How has Medtronic's r&d changed year-over-year?
- Medtronic's r&d increased by 7.0% year-over-year, from $675.00M to $722.00M.
- What is the long-term trend for Medtronic's r&d?
- Over 4 years (2021 to 2025), Medtronic's r&d has grown at a 2.3% compound annual growth rate (CAGR), from $2.49B to $2.73B.
- What does r&d mean?
- The money spent on creating new products or improving existing ones to drive future growth.